Entegris Beneish M-Score Historical Data
The historical data trend for Entegris's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Entegris Beneish M-Score Chart
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Entegris Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.79 |
-2.64 |
-2.08 |
-1.97 |
-2.72 |
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Entegris Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.71 |
-2.72 |
-2.66 |
-2.43 |
-2.49 |
Competitive Comparison of Entegris's Beneish M-Score
For the Semiconductor Equipment & Materials subindustry, Entegris's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Entegris's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Entegris's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Entegris's Beneish M-Score falls into.
Entegris Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Entegris for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 1.14 | + | 0.528 * 0.9446 | + | 0.404 * 1.1035 | + | 0.892 * 0.8759 | + | 0.115 * 1.0998 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7357 | + | 4.679 * -0.028729 | - | 0.327 * 0.8857 |
| = | -2.49 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
| This Year (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was $530 Mil.
Revenue was 807.694 + 812.652 + 771.025 + 812.291 = $3,204 Mil.
Gross Profit was 371.825 + 375.819 + 351.82 + 344.68 = $1,444 Mil.
Total Current Assets was $1,715 Mil.
Total Assets was $8,473 Mil.
Property, Plant and Equipment(Net PPE) was $1,627 Mil.
Depreciation, Depletion and Amortization(DDA) was $377 Mil.
Selling, General, & Admin. Expense(SGA) was $368 Mil.
Total Current Liabilities was $587 Mil.
Long-Term Debt & Capital Lease Obligation was $4,134 Mil.
Net Income was 77.582 + 67.696 + 45.266 + 37.977 = $229 Mil.
Non Operating Income was 0.212 + 29.676 + -14.285 + -142.488 = $-127 Mil.
Cash Flow from Operations was 197.227 + 111.212 + 147.186 + 143.191 = $599 Mil.
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Total Receivables was $531 Mil.
Revenue was 888.239 + 901 + 922.396 + 946.07 = $3,658 Mil.
Gross Profit was 367.074 + 384.166 + 401.685 + 404.525 = $1,557 Mil.
Total Current Assets was $2,944 Mil.
Total Assets was $9,825 Mil.
Property, Plant and Equipment(Net PPE) was $1,490 Mil.
Depreciation, Depletion and Amortization(DDA) was $389 Mil.
Selling, General, & Admin. Expense(SGA) was $571 Mil.
Total Current Liabilities was $683 Mil.
Long-Term Debt & Capital Lease Obligation was $5,497 Mil.
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1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (530.106 / 3203.662) | / | (530.931 / 3657.705) |
| = | 0.165469 | / | 0.145154 |
| | = | 1.14 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (1557.45 / 3657.705) | / | (1444.144 / 3203.662) |
| = | 0.4258 | / | 0.450779 |
| | = | 0.9446 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (1715.089 + 1627.144) / 8472.757) | / | (1 - (2943.56 + 1489.905) / 9824.616) |
| = | 0.605532 | / | 0.548739 |
| | = | 1.1035 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 3203.662 | / | 3657.705 |
| | = | 0.8759 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (388.962 / (388.962 + 1489.905)) | / | (377.288 / (377.288 + 1627.144)) |
| = | 0.207019 | / | 0.188227 |
| | = | 1.0998 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (367.763 / 3203.662) | / | (570.76 / 3657.705) |
| = | 0.114795 | / | 0.156043 |
| | = | 0.7357 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((4133.707 + 586.691) / 8472.757) | / | ((5496.843 + 683.159) / 9824.616) |
| = | 0.557127 | / | 0.629032 |
| | = | 0.8857 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (228.521 - -126.885 | - | 598.816) | / | 8472.757 |
| | = | -0.028729 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Entegris has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.
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